Indian shares opened higher on Monday, mirroring firm global cues after U.S. jobs data for June showed robust hiring yet persistent weakness in the labor market that helped soothe jitters about the timing of U.S. interest-rate hikes.
The benchmark 30-share BSE Sensex jumped 305 points, or 0.6 percent, to 52,789 in early trade, while the broader NSE Nifty index was up 94 points, or 0.6 percent, at 15,816.
Axis Bank, Larsen & Toubro, Bajaj Auto, Hindalco and Eicher Motors climbed 1-2 percent, while Cipla, Dr Reddy’s Laboratories, Tech Mahindra and HDFC Life were modestly lower.
Tata Steel edged up slightly after releasing crude steel production figures for the first quarter of the year.
Panacea Biotec jumped nearly 6 percent after it received license to produce Sputnik V vaccine in collaboration with the Russian Direct Investment Fund.
Market Analysis
Sensex Up Over 300 Points; Nifty Tops 15,800
2021-07-05 04:20:32
